Housing inventory in New York State witnessed a noticeable decline in February, with 22,366 homes listed for sale compared to 23,266 homes during the same period last year, representing a decrease of 3.9%. According to data from the New York State Association of Realtors (NYSAR), this figure marks the lowest level since the association began tracking data in 1997.
Ron Garafalo, President of the New York State Association of Realtors for 2026, highlighted the importance of addressing this housing crisis swiftly. He explained that current efforts across the state to expand housing opportunities are not delivering the desired improvements quickly enough.
Garafalo called on the state legislature and Governor Kathy Hochul to intensify efforts to remove obstacles hindering the production of more housing units. On the real estate sales front, the state recorded a decline of 10.8%, with sales dropping from 8,601 housing units in February 2025 to 7,673 units in February of this year. Pending sales also fell by 8.0%, reaching 6,169 units compared to 6,707 units in the previous year.
Meanwhile, the number of newly listed properties stood at 5,867, reflecting a similar decrease of 3.9% compared to 6,103 properties during the same period last year. As for sale prices, the statewide median price remained stable in February at $425,000, the same level recorded in the corresponding month of the previous year.
